Research On The Performance Of Will’s Acquisition Of Beijing Omnivision And Other Enterprises

In the information age,many emerging technologies need to be driven by semiconductor components,and some traditional industries may also use semiconductors to achieve industrial transformation and upgrading.According to the 14 th Five-Year Plan for the Development of Digital Economy,emerging technologies such as third-generation semiconductors should be focused to promote technological integration.We should strengthen original and leading scientific and technological breakthroughs in the fields of images and graphics.In addition,the positive effects brought by M&A are also attractive to enterprises,including the rapid acquisition of new technologies,the expansion of enterprise market scale and the realization of enterprise strategic transformation.In view of the above factors,the current semiconductor related mergers and acquisitions in the capital market are becoming increasingly active,but at the same time,they are also facing the test of post-merger integration.This paper chooses the case of Will’s merger and acquisition of Beijing Omnivision,Superpix and Vision Source as the research object,analyzes the performance of the merger and acquisition,and explores the effect of the merger and acquisition.By reviewing the domestic and foreign literature related to M&A motivation and performance,I have a comprehensive understanding of the theory of M&A performance,and on this basis,I put forward the research idea of this paper.Then,according to the industry particularity of the case enterprises,the concepts of M&A and M&A performance in this paper are defined,and the basic theories on which the paper is based are explained.On the basis of the background of merger and acquisition and the knowledge of all parties,the motivation of merger and acquisition is analyzed.In the subsequent performance analysis,this paper uses the financial index method,EVA analysis method and event study method to analyze the M&A performance from the four dimensions of finance,technical resources,market response and business development.The results show that,first of all,after the merger and acquisition,the data of several performance analysis indicators of Will have been improved to a certain extent.Secondly,on the whole,the merger was successful,but the synergistic effect of the merger was not fully brought into play.Finally,mergers and acquisitions reflect obvious industrial characteristics,from the perspective of the positive effect of M&A,it is feasible to acquire new technologies through M&A,which can help enterprises quickly break through technological barriers and realize their strategic transformation and upgrading.The innovation points of this paper are mainly reflected in the following two aspects.Therefore,the study of M&A cases in the semiconductor industry and the analysis of their M&A performance have certain reference significance for the selection of M&A strategies and performance improvement of relevant enterprises.Second,the research methods in this paper are relatively diverse.In the study of M&A performance,the financial index method,EVA analysis method and event study method are adopted to conduct a comprehensive and objective study from multiple perspectives,making up for the defects of single index evaluation and focusing on its technological innovation ability,which makes the research more comprehensive and objective and the research results more convincing.